In January through March 2011, Conpet reported a net profit of RON11 million.
The company said revenue declined 1.8% on the year to RON95.5 million in the first three months of 2012, while costs were down 2% to RON82.1 million.
Conpet manages a network of 4,500 kilometers of oil pipelines in Romania.
The Economy Ministry holds 58.7% in Conpet, while investment fund Fondul Proprietatea owns 29.7%.
On Rasdaq market Thursday, Conpet closed up 1.47% at RON34.5 a share. (EUR1=RON4.4165)